SoFi Technologies (NASDAQ:SOFI – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.080-0.090 for the period, compared to the consensus estimate of 0.080. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. SoFi Technologies also updated its Q2 2024 guidance to EPS.
SoFi Technologies Stock Down 10.5 %
Shares of SOFI stock opened at $7.05 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The firm’s 50 day moving average price is $7.61 and its two-hundred day moving average price is $7.88.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. Research analysts predict that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
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Insider Transactions at SoFi Technologies
In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.
About SoFi Technologies
SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.
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